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    BoE Proposes to Discontinue Collection of Form VP

    October 15, 2019

    BoE, in its Statistical Notice 2019/04, is proposing to discontinue the collection of Form VP, with the end of September 2019 reporting being the last reporting period. Form VP is used to collect data on UK monetary financial institutions’ securitization special purpose vehicles (SPVs) and covered bond limited liability partnerships (LLPs). The discontinuation of this collection will mean that the Securitization SPV and Covered Bond LLP lists will no longer be updated, but the current lists will continue to be accessible on the website. BoE is seeking views of reporters by the end of November before a final decision is made.

    The Statistical Notice also points out that the applicable ratio for the next adjustment to Cash Ratio Deposits (CRDs), due on December 02, 2019, will be published on the BoE website on November 20, 2019. BoE will issue call notices to CRD payers (which will include this revised CRD ratio) shortly thereafter. CRDs are non-interest bearing deposits lodged with BoE by eligible institutions (that is, banks and building societies), who have reported average eligible liabilities in excess of GBP 600 million over a six-month calculation period. The level of each institution’s CRD is calculated twice yearly (in May and November). The deadline for revisions to eligible liabilities to be reflected in the December adjustment is November 18, 2019.

     

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    Keywords: Europe, UK, Banking, Securities, Statistical Notice, Data Collection, Securitization, Form VP, Reporting, Statistics, Special Purpose Vehicle, BoE

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